Michigan Chronicle Vol. 85 – No. 21 | Jan. 26 - Feb. 1, 2022
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Standard and Poor’s Rates Wayne County’s Credit With Top Marks
ual Michigan Chronicle Men of Excellence Awards and Induction ard Awards, Man of the Year Award and O'Neil Swanson Lifetime be bestowed upon these five outstanding pillars of the community. heir accomplishments on Thursday, January 27, 2021, 6 pm at the ernational Marketplace in downtown Detroit.
One of the world’s top-three credit-rating agencies recently raised Wayne County’s rating from BBB+ to an A based upon sound fiscal management and successful operational restructuring under the helm of County Executive Warren C. Evans. Standard and Poor’s (S&P) recently gave Wayne County the rating, which was announced on Friday, January 21.
nnual Michigan Chronicle Men of Excell guard Awards, Man of the Year Award Should the 13th ill be bestowed upon these five outsta Congressional g their accomplishments onDistrict Thursday, Remain a Black Seat? International Marketplace in downtown As one of the blackest cities in America —
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“The rating increase means it will cost Wayne County less to finance long-term infrastructure and investment projects,” Evans said in a statement.
The credit-rating scale ranges from the high-end AAA, “extremely strong capacity to meet financial commitments” to D on the low ranking in which there is a “payment default on a financial commitment or breach of an imputed promise, according to a press release.” This rating is also used when a bankruptcy petition has been filed.
“Credit ratings are forward-looking opinions about the ability and willingness of debt GERALD JOHNSON BISHOP J. DREW SHEARD issuers, like corporations or governments, to meet their financial obligations timePresident and in ExecutiveonVice Chief Prelate and Chief Apostle full,” according to Standard and Global and Sustainability Church of God in Christ Poor’sManufacturing website. “They provide a common and transparent global General Motors language for investors and other market participants, corporations and governments, and are one of many inputs they can consider as By Donald James part of their decision-making proSpecial to the Chronicle cesses.”
Detroit deserves black representation
The “A” grade rating indicates the stability of Wayne County’s ability to meet its long-term debt obligations, making the county more attractive to institutional bond investors. The rating increase is also noteworthy because it occurred two years into the COVID-19 pandemic. These improved ratings are one that Wayne County notes as being the highest since 2010. In announcing its increased rating, S&P stated: “The twonotch upgrade reflects our view of the county’s continued maintenance of structurally balanced operations; seven years of positive financial results; strong management; and ongoing, albeit slow, economic recovery. Just six months ago, Moody’s also upgraded Wayne County’s rating to ‘A3’. Evans said that Wayne County’s financial position has improved materially since the execution of the county’s consent agreement and recovery plan in 2016. “Through this process, the county was able to substantially reduce health care costs and long-term liabilities and it has since continued to maintain structural balance, increase reserves, and improve its pension
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he political landscape in Michigan has undergone a profound and adverse facelift. The state is losing a U.S. House seat because the last Census count shows the loss of population. And Detroit, America’s Blackest major city, no longer has a majority Black congressional district based on the controversial redrawn congressional and state legislative maps approved by the Michigan Independent Citizens Redistricting Commission on December 28, 2021. As the 2022 midterm and general elections draw closer, the 13th Congressional District, with its 45% Black population (a majority-minority), will be watched closely to see just how much “Black voters matter.” The reconfigured 13th includes much of Detroit, Highland Park, Hamtramck, the Grosse Pointes, and other cities in Wayne County. African American candidates rumored to run for Congress in the 13th, all democrats, include Dr. Shauna Ryder Diggs (dermatologist and former University of Michigan Board of Regents member), Sherry Gay-Dagnogo (Detroit School Board member and former state representative), Ralph Godbee Jr. (former Detroit Police Chief), Michael Griffie (attorney and educator), Adam Hollier (state senator), Sonya Mays (Detroit developer and School Board member), and Portia Roberson (Focus: Hope’s CEO). State Rep. Shri Thanedar, an Indian-American, has announced he is running. The Democrat says he will fund his campaign with millions of his own money. More candidates are expected to join the race ahead of the April 19, 2022 filing deadline. Many Black political observers and stakeholders in Southeast Michigan believe it’s critical that an African American wins the 13thDAVE Congressional BINGDistrict race. Yet, with the high number of African American candidates expected to run in the primary, speculation the Black vote will be split Formerthe Mayor, City isofthat Detroit unless a consensus candidate is selected.
Founder, Bing Youth Institute
Wayne County Executive Warren Evans told the Michigan
Chronicle that he has convened a broad group of stakeholders interested in establishing a fair and transparent process for identifying and backing a consensus Black candidate to run for the 13th Congressional seat. “In theory, everyone says it’s a great idea, but the politics of pulling it together is difficult because in some instances, people have already chosen their candidates,” Evans said. “But I have an effort afoot to try and create a broad consortium of folks to see if we can carve out a process to pick a consensus candidate because there’s no denying that when you have this type of vote splitting with the tremendous number of prominent African Americans in the race, you certainly give the other opponents who are not of color the chance to be successful.” Evans said that he has convened two meetings. However, he emphasized that others in the community are welcome to join the consortium and offer insight to crafting a viable process for choosing a consensus African American candidate for the 13th Congressional race. “It’s a lot to be ironed out,” Evans said. “But if we aren’t successful, it will go back to the old way of throwing cold water on each other and everybody picking an individual in the race and see what happens. I just don’t know that anybody should want to take that risk because we are desperately facing the loss of political power and a seat in congress.” “Wayne County Executive Evans is the right person to facilitate such a movement because of the stature of his office,” said Chris Jackson, who heads a Detroit-based political consultant group and runs a development firm in the city. “He is someone who is well respected.” Bishop Edgar Vann, Senior Pastor of Second Ebenezer Church in Detroit’s 13th Congressional District, agrees. “Wayne County Executive Warren Evans is certainly someone who has stood tall with integrity and has done a great job in Wayne County,” Vann said. “If this is something that he wants to do, I would hope that it’s something that people could adhere to. We need a consensus candidate, but we live in a time when people don’t listen to other folks when they
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WHAT’S INSIDE
Retired City Council President N T Brenda Jones is Ready for Life! ouse ketplace H | 400 Monroe, 8th Floor | Detroit, MI 48226
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She is “ready to have a life” after serving 16 years on Detroit’s legislative body beginning in January 2006. Council President Brenda Jones is ending a four-term career on a council that has seen its highs and lows.
In an interview with the Michigan Chronicle, Jones said she never imagined she would have such an extensive stay and she credits her deep care for citizens, integrity and Detroiters understanding her firm and sometimes unpopular decisions as to the staying power she has held. “Each day you work, it’s like an election,” said Jones. “Each election, you don’t know whether or not if you’ll be re-elected,
so each day you’re out fighting for your life.”
Jones says she can recall the days when people would make remarks on grabbing popcorn to gather around the television set to watch city council sessions. Before having an interest in running for an elected seat, she didn’t understand the comments at the time but it became clear when she watched the council sessions herself. The only reaction she could give was to shake her head in disbelief of the sometimes lack of professionalism from elected city officials. But Jones would eventually do more than shake her head in disappointment
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JONES page A2